Big Law
Grindr Will Go Public Via a $2.1 Billion SPAC Merger
Grindr, the world’s largest dating app for LGBTQ+ people, is slated to go public via a merger with Tiga Acquisition Corp, a special-purpose acquisition company.
The combined company is valued at $2.1 billion, Grindr said in an announcement on Monday. The merger is expected to raise $384 million for Grindr, which the company plans to use to pay down debt and fund growth.
California-based Grindr said in its announcement that it is profitable and saw a 31.5% on-year increase in paying users as of December 2021. About 80% of user profiles are 35 years or younger and there remains untapped global potential for its services, it added.
